CHang Hyun-guk, the former CEO of Wemade, was indicted on Monday for failing to disclose sales and circulation data of Wemix tokens.
Singer Chungha has been named promotional model for game company Wemade and its cryptocurrency Wemix, the game publisher said Thursday.
Whoever takes the KLPGA's Wemix Championship title in November will not receive a single won for their win, instead walking away with a pocket full of cryptocurrency.
Prosecutors raided the offices of multiple cryptocurrency exchanges to probe into the alleged fabrication of the amount of Wemix tokens put into circulation.
The National Assembly on Thursday passed a bill to assist victims of large-scale rental fraud and two other bills to close loopholes that allowed a Democratic Party lawmaker to conduct large-scale cryptocurrency transactions without oversight.
A cryptocurrency trading scandal involving a lawmaker is battering Korea's in-game currencies market, also known as the play-to-earn (P2E) business.
Disquiet within the liberal Democratic Party (DP) over Rep. Kim Nam-kuk's massive cryptocurrency transactions appeared to rise after a DP statement on the matter omitted any mention of referring the lawmaker to a parliamentary ethics committee.
The question centers on where the lawmaker’s money came from.
The liberal Democratic Party (DP) on Thursday convened the first meeting of an internal investigative team tasked with uncovering details of Rep. Kim Nam-kuk's ownership of 6-billion-won ($4.5 million) in cryptocurrency investments.
DP Rep. Kim Nam-kuk reportedly owned 800,000 Wemix, a cryptocurrency issued by game publisher Wemade that was once delisted. The value of the crpytocurrency was estimated at 6 billion won.
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